Bill Tresham, president of global investments at Ivanhoe Cambridge, the real estate subsidiary of Caisse de Depot et Placement du Quebec, Montreal, is taking on the new role of strategic adviser, said Sebastien Theberge, spokesman, in an email.
The global investments position is not being filled. Mr. Tresham's new role is part of the Caisse's mandate to all five of its business units to look for new ways to generate return in view of the current "very competitive environment where it will be increasingly challenging to deliver the returns that are expected from us," Mr. Theberge wrote.
As part of Ivanhoe Cambridge's strategic plan, the unit is searching for alternative sources of return, he said. These alternative sources of return have included the privatization of U.S. apartment real estate investment trust Monogram Residential Trust in September and its acquisition of industrial real estate operator Evergreen Industrial Properties from TPG in July. Ivanhoe also "significantly expanded" its investment in Asia this year with investments in Sydney-based logistics company LOGOS Property and a partnership with diversified Indian company Piramal Enterprises to provide long-term equity capital to residential developers in India, Mr. Théberge noted.
Separately, Chanakya Chakravarti was named managing director, India, growth markets, at Ivanhoe Cambridge, the company said in a news release.
The position is new. Mr. Chakravarti will report to Rita-Rose Gagne, president, growth markets, at Ivanhoe Cambridge.
Mr. Chakravarti was managing director, global alternatives, real estate Asia, at J.P. Morgan Chase & Co.
Caisse manages C$286.5 billion ($223.6 billion) in Quebec public pension and other assets. Ivanhoe Cambridge had about C$56 billion in assets as of Dec. 31, the most recent number available.
